ITR 5 Form: Structure, Eligibility, and Filing Procedure

ITR 5 Form: Structure, Eligibility, and Filing Procedure. The Income Tax Department of India has introduced different Income Tax Return (ITR) forms for different types of taxpayers based on the nature and source of their income. One of these forms is the ITR 5 Form, which is specifically designed for entities like firms, LLPs (Limited Liability Partnerships), AOPs, and others. This article provides a complete and easy-to-understand explanation of the ITR 5 Form, covering its structure, eligibility, key changes, and step-by-step filing procedure for Assessment Year 2025-26.
What is ITR 5 Form Used For?
The ITR 5 Form is used to file income tax returns by various types of business entities and other non-individual taxpayers. This includes:

Firms

Limited Liability Partnerships (LLPs)

Association of Persons (AOPs)

Body of Individuals (BOIs)

Artificial Juridical Persons (AJPs)

Estates of deceased or insolvent persons

Business Trusts

Investment Funds

The form allows these entities to report their income, claim deductions, and compute the final tax liability payable to the Income Tax Department. It is important to select the correct form for accurate and compliant filing.
Who is Eligible to File the ITR 5 Form?
The ITR 5 Form can be filed by a wide range of entities, including:

A firm (not being an LLP or company)

LLPs registered under the LLP Act

AOPs and BOIs

Artificial Juridical Persons as defined in Section 2(31)(vii)

Local authorities as per Section 2(31)(vi)

Cooperative Societies

Societies registered under the Societies Registration Act, 1860 or under similar state laws

Trusts that are not required to file ITR-7

Estates of deceased persons and insolvents

Representative assessees under Section 160(1)(iii) or (iv)

Business Trusts as per Section 139(4E)

Investment Funds under Section 139(4F)

However, individuals, Hindu Undivided Families (HUFs), and companies cannot file their returns using the ITR 5 Form. Also, trusts that are required to file returns under Sections 139(4A), 139(4B), 139(4C), or 139(4D) must use the ITR-7 Form instead.
Main Changes in the ITR 5 Form for AY 2025-26
Several new disclosures and changes have been introduced in the ITR 5 Form for the Assessment Year 2025-26. Knowing about these changes is important for proper compliance:
Legal Entity Identifier (LEI)
Entities engaged in financial transactions amounting to Rs.50 crore or more are now required to disclose their Legal Entity Identifier (LEI) in income tax returns. This aligns with RBI and SEBI mandates to improve transparency and traceability in high-value financial dealings.
Micro and Small Enterprises Disclosure (Section 43B(h))
Companies must now furnish detailed disclosures of payments to micro and small enterprises (MSEs), particularly highlighting delayed payments. This change enforces timely payment obligations under Section 43B(h) of the Income Tax Act.
Schedule 80GGA – Donation Disclosures
New reporting fields have been introduced in Schedule 80GGA to separately report contributions made to research institutions, universities, and rural development programs. This helps in tracking eligible deductions more accurately.
Schedule CG – Capital Gains Reporting
Schedule Capital Gains now requires more granular disclosures, especially from non-residents and those transacting in securities like equity shares and mutual funds. This includes details on acquisition, sale, and taxability under special rates.
Accounting Changes Disclosure
Taxpayers must now disclose any changes made to accounting policies, valuation methods, or turnover reconciliations with GST filings. This ensures transparency in the computation of income and consistency in financial reporting.
Foreign Tax Credit – Enhanced Disclosures
Schedules TR and FA have been enhanced to allow detailed reporting for claiming foreign tax credits under Rule 128. Taxpayers must now provide complete documentation and country-wise tax paid information.
Start-up Deduction (Section 80-IAC)
Eligible startups must now submit specific declarations, such as incorporation date and DPIIT recognition, to avail deductions under Section 80-IAC. This prevents misuse and ensures that only qualified startups benefit.
Return Filing Section Dropdown
A dropdown menu is now added to the ITR form for selecting the applicable section (e.g., 139(1), 139(4), etc.) under which the return is being filed. This simplifies classification and helps in accurate return processing.
Revised Business Codes
The business codes in the ITR forms have been revised to match the NIC 2008 classification. This harmonizes business activity reporting across various statutory filings and government databases.
Improved JSON Utility (Offline Filing)
The offline JSON utility used for filing ITRs now includes enhanced validation rules. This helps users identify and correct errors before submission, reducing the chances of return rejections.
Structure of the ITR 5 Form
The ITR 5 Form is divided into two main parts and 40 different schedules. The form's structure is designed to capture all necessary financial and tax-related data from the taxpayer.
Part A - General Information
This part captures basic details of the assessee, such as:

Name

PAN

Address

Status (Firm, LLP, etc.)

Nature of business

Filing section (e.g., 139(1))

Audit details

Part A-BS - Balance Sheet
This section requires the disclosure of a balance sheet as on 31st March 2025. All assets, liabilities, and equity need to be accurately reported.
Part A-Manufacturing Account
Firms involved in manufacturing must fill in this section with details of raw materials, direct expenses, and manufacturing overheads for FY 2024-25.
Part A-Trading Account
Trading businesses must report turnover, cost of goods sold, and gross profit earned during the financial year.
Part A-P&L - Profit and Loss Account
Here, the assessee discloses net profits, indirect expenses, other income, and final profit or loss for the year.
Part A-OI - Other Information
This part includes important financial details such as:

Method of accounting

Change in accounting method or estimates

Details of turnover reconciliation with GST

Part A-QD - Quantitative Details
Taxpayers must provide quantitative information regarding raw materials, finished goods, and other inventory, where applicable.
Part B - Computation of Total Income and Tax Liability
This part calculates the total income after all deductions and exemptions. It also computes the tax liability payable for the year.
40 Schedules in ITR 5 Form
Each of the 40 schedules is designed to capture specific types of income, deductions, and disclosures. A few important ones are:

Schedule-HP: Reports income from house property.

Schedule-BP: Business income details.

Schedule-CG: Capital gains.

Schedule-OS: Income from other sources.

Schedule-80G, 80GGA, 80GGC: Donations made for tax deductions.

Schedule-80IAC: Deduction for start-ups.

Schedule-IF: Firm partners' information.

Schedule-TR & FA: Foreign income and asset details.

Schedule-GST: Turnover reconciliation with GST filings.

Each schedule should be filled only if it applies to the taxpayer. Proper documentation must support the figures mentioned.
Filing Procedure for ITR 5 Form
The ITR 5 Form must be filed electronically through the Income Tax Department’s e-Filing portal. The process includes the following steps:
Digital Signature Submission
Entities such as LLPs and firms whose accounts are subject to audit under the Income Tax Act must mandatorily file their ITR-5 using a valid Digital Signature Certificate (DSC). This ensures authenticity and secure electronic submission of audited financial data.
Uploading Return with ITR-V
If the return is filed without using a DSC, the assessee must verify it by signing and sending the ITR-V (acknowledgment form) via ordinary post to the CPC in Bengaluru or complete verification through other approved methods within 30 days.
Verification Options
Apart from posting the ITR-V, taxpayers can verify their return electronically using Aadhaar-based OTP, net banking credentials, or a DSC. These digital modes provide convenience and faster processing of the income tax return.
No Attachment Policy
ITR-5 filing does not require any physical documents to be attached. Taxpayers should retain supporting documents such as TDS certificates, invoices, and financial statements, and ensure that these match with the entries in Form 26AS for verification if needed.
Due Date for Filing ITR 5 Form for FY 2024-25
The due date to file the ITR 5 Form varies based on whether the entity is subject to audit or not:

31 October 2025: If accounts are audited under Income Tax Act.

30 November 2025: If Form 3CEB (international transactions/TP) is required.

15 September 2025: For non-audited accounts.

Missing these deadlines can attract penalties and interest. It’s advisable to file the return well in advance.
Who Cannot File the ITR 5 Form?
Certain taxpayers are not permitted to use ITR 5 Form. These include:

Individuals

Hindu Undivided Families (HUFs)

Companies (Private/Public/OPC)

Entities required to file ITR-7 under Sections 139(4A), 139(4B), 139(4C), 139(4D)

These taxpayers must select the appropriate ITR form designated for their category to ensure proper filing.
Filling the Verification Section
After completing all parts and schedules, the verification section must be filled carefully. Here’s how:

Fill in the name and designation of the person verifying the return.

Strike out statements that do not apply.

Confirm that all data is true and complete.

Any false statement can lead to prosecution under Section 277 of the Income-tax Act, 1961.

Conclusion
Filing the ITR 5 Form correctly is essential for firms, LLPs, AOPs, and other eligible entities to remain compliant with income tax laws in India. With the inclusion of new disclosures and validation checks, entities must exercise caution while preparing and filing this return. Timely and accurate filing helps avoid legal consequences and builds trust with the tax authorities. Taxpayers should also cross-verify all financial records, audit reports, and deductions with the data entered in the ITR to ensure accuracy. If any doubt arises regarding the applicability of schedules or sections while filing ITR 5, connect with Compliance Calendar LLP experts through mail at info@ccoffice.in or Call/Whatsapp at +91 9988424211.
FAQs
Q1. Who is eligible to file ITR 5 Form?
Ans. ITR 5 Form is meant for firms, LLPs, Association of Persons (AOP), Body of Individuals (BOI), Artificial Juridical Persons, Estates of Deceased or Insolvent Persons, Business Trusts, and Investment Funds. However, it is not applicable to individuals, HUFs, or companies.
Q2. What is the structure of the ITR 5 Form?
Ans. The ITR 5 Form is divided into various parts such as Part A (General Information), Part A-BS (Balance Sheet), Part A-P&L (Profit and Loss), Part A-OI (Other Information), and multiple schedules for income, deductions, taxes paid, and audit details. It also includes verification and signature sections.
Q3. Is filing ITR 5 mandatory with a Digital Signature Certificate (DSC)?
Ans. Yes, for firms and LLPs whose accounts are audited under the Income Tax Act, filing ITR 5 with a Digital Signature Certificate is mandatory. Other eligible taxpayers can file without DSC but must verify the return through ITR-V or e-verification.
Q4. Can I file ITR 5 online without DSC?
Ans. Yes, if DSC is not mandatory for your entity, you can file ITR 5 online and verify the return using Aadhaar OTP, net banking, EVC, or by sending a signed physical copy of ITR-V to CPC Bengaluru within 30 days.
Q5. What documents are required while filing ITR 5?
Ans. No documents need to be attached with ITR 5 Form. However, the assessee must keep necessary records like financial statements, TDS certificates, Form 26AS, audit reports, and other supporting documents for future reference or scrutiny.
Q6. What is the due date for filing ITR 5 for audited firms?
Ans. For entities that are required to get their accounts audited under the Income Tax Act, the due date to file ITR 5 is generally 31st October of the assessment year, unless extended by the government through notification.
Q7. How to file ITR 5 Form online?
Ans. You can file ITR 5 online through the Income Tax e-Filing portal. Log in using your PAN, select ITR 5, fill in the required schedules, validate using DSC or Aadhaar OTP, and submit. Alternatively, you can upload the JSON utility and then verify the return accordingly.

The Income Tax Department of India has introduced different Income Tax Return (ITR) forms for different types of taxpayers based on the nature and source of their income. One of these forms is the ITR 5 Form, which is specifically designed for entities like firms, LLPs (Limited Liability Partnerships), AOPs, and others. This article provides a complete and easy-to-understand explanation of the ITR 5 Form, covering its structure, eligibility, key changes, and step-by-step filing procedure for Assessment Year 2025-26.

What is ITR 5 Form Used For?

The ITR 5 Form is used to file income tax returns by various types of business entities and other non-individual taxpayers. This includes:

Firms
Limited Liability Partnerships (LLPs)
Association of Persons (AOPs)
Body of Individuals (BOIs)
Artificial Juridical Persons (AJPs)
Estates of deceased or insolvent persons
Business Trusts
Investment Funds

Who is Eligible to File the ITR 5 Form?

The ITR 5 Form can be filed by a wide range of entities, including:

A firm (not being an LLP or company)
LLPs registered under the LLP Act
AOPs and BOIs
Artificial Juridical Persons as defined in Section 2(31)(vii)
Local authorities as per Section 2(31)(vi)
Cooperative Societies
Societies registered under the Societies Registration Act, 1860 or under similar state laws
Trusts that are not required to file ITR-7
Estates of deceased persons and insolvents
Representative assessees under Section 160(1)(iii) or (iv)
Business Trusts as per Section 139(4E)
Investment Funds under Section 139(4F)

Main Changes in the ITR 5 Form for AY 2025-26

Several new disclosures and changes have been introduced in the ITR 5 Form for the Assessment Year 2025-26. Knowing about these changes is important for proper compliance:

Legal Entity Identifier (LEI)

Entities engaged in financial transactions amounting to Rs.50 crore or more are now required to disclose their Legal Entity Identifier (LEI) in income tax returns. This aligns with RBI and SEBI mandates to improve transparency and traceability in high-value financial dealings.

Micro and Small Enterprises Disclosure (Section 43B(h))

Companies must now furnish detailed disclosures of payments to micro and small enterprises (MSEs), particularly highlighting delayed payments. This change enforces timely payment obligations under Section 43B(h) of the Income Tax Act.

Schedule 80GGA – Donation Disclosures

New reporting fields have been introduced in Schedule 80GGA to separately report contributions made to research institutions, universities, and rural development programs. This helps in tracking eligible deductions more accurately.

Schedule CG – Capital Gains Reporting

Schedule Capital Gains now requires more granular disclosures, especially from non-residents and those transacting in securities like equity shares and mutual funds. This includes details on acquisition, sale, and taxability under special rates.

Accounting Changes Disclosure

Taxpayers must now disclose any changes made to accounting policies, valuation methods, or turnover reconciliations with GST filings. This ensures transparency in the computation of income and consistency in financial reporting.

Foreign Tax Credit – Enhanced Disclosures

Schedules TR and FA have been enhanced to allow detailed reporting for claiming foreign tax credits under Rule 128. Taxpayers must now provide complete documentation and country-wise tax paid information.

Start-up Deduction (Section 80-IAC)

Eligible startups must now submit specific declarations, such as incorporation date and DPIIT recognition, to avail deductions under Section 80-IAC. This prevents misuse and ensures that only qualified startups benefit.

Return Filing Section Dropdown

A dropdown menu is now added to the ITR form for selecting the applicable section (e.g., 139(1), 139(4), etc.) under which the return is being filed. This simplifies classification and helps in accurate return processing.

Revised Business Codes

The business codes in the ITR forms have been revised to match the NIC 2008 classification. This harmonizes business activity reporting across various statutory filings and government databases.

Improved JSON Utility (Offline Filing)

The offline JSON utility used for filing ITRs now includes enhanced validation rules. This helps users identify and correct errors before submission, reducing the chances of return rejections.

Structure of the ITR 5 Form

The ITR 5 Form is divided into two main parts and 40 different schedules. The form's structure is designed to capture all necessary financial and tax-related data from the taxpayer.

Part A - General Information

This part captures basic details of the assessee, such as:

Name
PAN
Address
Status (Firm, LLP, etc.)
Nature of business
Filing section (e.g., 139(1))
Audit details

Part A-BS - Balance Sheet

This section requires the disclosure of a balance sheet as on 31st March 2025. All assets, liabilities, and equity need to be accurately reported.

Part A-Manufacturing Account

Firms involved in manufacturing must fill in this section with details of raw materials, direct expenses, and manufacturing overheads for FY 2024-25.

Part A-Trading Account

Trading businesses must report turnover, cost of goods sold, and gross profit earned during the financial year.

Part A-P&L - Profit and Loss Account

Here, the assessee discloses net profits, indirect expenses, other income, and final profit or loss for the year.

Part A-OI - Other Information

This part includes important financial details such as:

Method of accounting
Change in accounting method or estimates
Details of turnover reconciliation with GST

Part A-QD - Quantitative Details

Taxpayers must provide quantitative information regarding raw materials, finished goods, and other inventory, where applicable.

Part B - Computation of Total Income and Tax Liability

This part calculates the total income after all deductions and exemptions. It also computes the tax liability payable for the year.

40 Schedules in ITR 5 Form

Each of the 40 schedules is designed to capture specific types of income, deductions, and disclosures. A few important ones are:

Schedule-HP: Reports income from house property.
Schedule-BP: Business income details.
Schedule-CG: Capital gains.
Schedule-OS: Income from other sources.
Schedule-80G, 80GGA, 80GGC: Donations made for tax deductions.
Schedule-80IAC: Deduction for start-ups.
Schedule-IF: Firm partners' information.
Schedule-TR & FA: Foreign income and asset details.
Schedule-GST: Turnover reconciliation with GST filings.

Each schedule should be filled only if it applies to the taxpayer. Proper documentation must support the figures mentioned.

Filing Procedure for ITR 5 Form

The ITR 5 Form must be filed electronically through the Income Tax Department’s e-Filing portal. The process includes the following steps:

Digital Signature Submission

Entities such as LLPs and firms whose accounts are subject to audit under the Income Tax Act must mandatorily file their ITR-5 using a valid Digital Signature Certificate (DSC). This ensures authenticity and secure electronic submission of audited financial data.

Uploading Return with ITR-V

If the return is filed without using a DSC, the assessee must verify it by signing and sending the ITR-V (acknowledgment form) via ordinary post to the CPC in Bengaluru or complete verification through other approved methods within 30 days.

Verification Options

Apart from posting the ITR-V, taxpayers can verify their return electronically using Aadhaar-based OTP, net banking credentials, or a DSC. These digital modes provide convenience and faster processing of the income tax return.

No Attachment Policy

ITR-5 filing does not require any physical documents to be attached. Taxpayers should retain supporting documents such as TDS certificates, invoices, and financial statements, and ensure that these match with the entries in Form 26AS for verification if needed.

Due Date for Filing ITR 5 Form for FY 2024-25

The due date to file the ITR 5 Form varies based on whether the entity is subject to audit or not:

31 October 2025: If accounts are audited under Income Tax Act.
30 November 2025: If Form 3CEB (international transactions/TP) is required.
15 September 2025: For non-audited accounts.

Missing these deadlines can attract penalties and interest. It’s advisable to file the return well in advance.

Who Cannot File the ITR 5 Form?

Certain taxpayers are not permitted to use ITR 5 Form. These include:

Individuals
Hindu Undivided Families (HUFs)
Companies (Private/Public/OPC)
Entities required to file ITR-7 under Sections 139(4A), 139(4B), 139(4C), 139(4D)

These taxpayers must select the appropriate ITR form designated for their category to ensure proper filing.

Filling the Verification Section

After completing all parts and schedules, the verification section must be filled carefully. Here’s how:

Fill in the name and designation of the person verifying the return.
Strike out statements that do not apply.
Confirm that all data is true and complete.
Any false statement can lead to prosecution under Section 277 of the Income-tax Act, 1961.

Conclusion

Filing the ITR 5 Form correctly is essential for firms, LLPs, AOPs, and other eligible entities to remain compliant with income tax laws in India. With the inclusion of new disclosures and validation checks, entities must exercise caution while preparing and filing this return. Timely and accurate filing helps avoid legal consequences and builds trust with the tax authorities. Taxpayers should also cross-verify all financial records, audit reports, and deductions with the data entered in the ITR to ensure accuracy. If any doubt arises regarding the applicability of schedules or sections while filing ITR 5, connect with Compliance Calendar LLP experts through mail at info@ccoffice.in or Call/Whatsapp at +91 9988424211.

FAQs

Q1. Who is eligible to file ITR 5 Form?

Ans. ITR 5 Form is meant for firms, LLPs, Association of Persons (AOP), Body of Individuals (BOI), Artificial Juridical Persons, Estates of Deceased or Insolvent Persons, Business Trusts, and Investment Funds. However, it is not applicable to individuals, HUFs, or companies.

Q2. What is the structure of the ITR 5 Form?

Ans. The ITR 5 Form is divided into various parts such as Part A (General Information), Part A-BS (Balance Sheet), Part A-P&L (Profit and Loss), Part A-OI (Other Information), and multiple schedules for income, deductions, taxes paid, and audit details. It also includes verification and signature sections.

Q3. Is filing ITR 5 mandatory with a Digital Signature Certificate (DSC)?

Ans. Yes, for firms and LLPs whose accounts are audited under the Income Tax Act, filing ITR 5 with a Digital Signature Certificate is mandatory. Other eligible taxpayers can file without DSC but must verify the return through ITR-V or e-verification.

Q4. Can I file ITR 5 online without DSC?

Ans. Yes, if DSC is not mandatory for your entity, you can file ITR 5 online and verify the return using Aadhaar OTP, net banking, EVC, or by sending a signed physical copy of ITR-V to CPC Bengaluru within 30 days.

Q5. What documents are required while filing ITR 5?

Ans. No documents need to be attached with ITR 5 Form. However, the assessee must keep necessary records like financial statements, TDS certificates, Form 26AS, audit reports, and other supporting documents for future reference or scrutiny.

Q6. What is the due date for filing ITR 5 for audited firms?

Ans. For entities that are required to get their accounts audited under the Income Tax Act, the due date to file ITR 5 is generally 31st October of the assessment year, unless extended by the government through notification.

Q7. How to file ITR 5 Form online?

Ans. You can file ITR 5 online through the Income Tax e-Filing portal. Log in using your PAN, select ITR 5, fill in the required schedules, validate using DSC or Aadhaar OTP, and submit. Alternatively, you can upload the JSON utility and then verify the return accordingly.